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Started By
Message
re: Initial Jobless Claims 3.2mm
Posted on 3/26/20 at 8:09 am to windshieldman
Posted on 3/26/20 at 8:09 am to windshieldman
quote:People get very angry on here when this is said.
I think it’s easy for us who have “essential” jobs (I’m ems) to go to or didn’t work, or parents help them out, to say we have to keep the country shut down. It’s another thing to be forced into no longer receiving a paycheck and no help other than a few thousand coming from a stimulus. I cannot fathom that situation, especially not knowing how long this will last.
The ones who are so adamant about shutting the world down are the ones who aren’t unemployed or have significant help or savings.
Then you have those who view it as “saving lives”, despite the fact that they are choosing to destroy lives at the same time, no to mention the flippant attitude so many take about small businesses and how “if they can’t survive not running for a couple months, they should close anyway”.
We are sacrificing millions of human beings to save lives, which makes zero sense.
quote:If we are shutdown for several more “weeks”, you will start seeing that happen.
I know many disagree but at some point we gonna have to open shite back up. We don’t need suicides, homelessness, to outpace folks dying from corona. Not saying that would happen but if we are shutdown for several more months then who knows.
Everyone has such a myopic view about this event.
4
Posted on 3/26/20 at 8:11 am to ELLSSUU
quote:It won’t just rebound.
Yes COVID goes away but I’m not convinced a switch is suddenly switched back on for employment and spending. Mom and pop (small business) companies that sink don’t unsink quickly.
This isn’t like 2008 or any of the other economic downfall.
This is the first time in history where we, as a society, decided that we would completely stop all industry.
Nothing would be made. Nothing would be sold.
It is unprecedented.
Posted on 3/26/20 at 8:13 am to hubreb
quote:
In the institutional finance world...where you deal in millions...one "m" = 000...two equal million
And in the rest of the real world, 2 m's means millimeters.
Posted on 3/26/20 at 8:14 am to Scruffy
quote:
This is the first time in history where we, as a society, decided that we would completely stop all industry.
Nothing would be made. Nothing would be sold.
It is unprecedented.
When was that? Because it isn't now.
Posted on 3/26/20 at 8:17 am to Scruffy
quote:
Nothing would be made. Nothing would be sold.
The manufacturing firm I work for greatly disagrees with this assessment.
Posted on 3/26/20 at 8:18 am to Scruffy
quote:
Then you have those who view it as “saving lives”, despite the fact that they are choosing to destroy lives at the same time, no to mention the flippant attitude so many take about small businesses and how “if they can’t survive not running for a couple months, they should close anyway
Yea quite a few nurses are posting stuff about We go to work so you can stay home. Fortunately our fire chief told us not to be posting stupid shite like that on social media. I agree nurses and ems are working hard, no doubt, but it’s a slap in the face to post stuff like that or a picture of yourself at work with a mask on in the ER saying “stay at home” when folks are now unemployed, stores are low on stock, and future is unknown.
Posted on 3/26/20 at 8:19 am to hubreb
3.2MM not 3.2mm
Posted on 3/26/20 at 8:19 am to Scruffy
But scruffy, think of the thousands of lives possibly saved by ruining the lives of actual 3.3 million people (ignoring families)
Posted on 3/26/20 at 8:20 am to Scruffy
quote:
This is the first time in history where we, as a society, decided that we would completely stop all industry. Nothing would be made. Nothing would be sold. It is unprecedented.
We have sold a shite ton during this thing
Posted on 3/26/20 at 8:23 am to Scruffy
quote:
decided that we would completely stop all industry.
No it isn’t
quote:
Nothing would be sold.
The market is still open, people are buying and selling (a lot more selling for sure)
Posted on 3/26/20 at 8:23 am to Scruffy
Humans aren't being sacrifices bro. Jobs and the economy are being sacrificed.
Unless of course you are talking about the people going out and touching everything and breathing on everyone then yes those people are sacrificing humamsnfor their own selfish pleasure
Unless of course you are talking about the people going out and touching everything and breathing on everyone then yes those people are sacrificing humamsnfor their own selfish pleasure
Posted on 3/26/20 at 8:24 am to ELLSSUU
quote:
Serious question. Educate me here on why so many think this is short term.
The economy is likely to open back up, albeit with new measures in place by May. Most medium to large businesses will ramp back up pretty quickly. Small businesses will take longer, I guess my short term here is 9-12 months for the entire economy to be operating again.
Posted on 3/26/20 at 8:24 am to terd ferguson
quote:
3.2 millimeters doesn't seem like much
It's more about how you use it.
Posted on 3/26/20 at 8:24 am to hubreb
quote:Nah, the consensus estimate was 3.4 million initial claims.
Double estimates
So at 3.23 million the number came in slightly below estimates.
Posted on 3/26/20 at 8:25 am to Scruffy
quote:
It won’t just rebound.
This isn’t like 2008 or any of the other economic downfall.
This is the first time in history where we, as a society, decided that we would completely stop all industry.
Nothing would be made. Nothing would be sold.
It is unprecedented.
This.
We aren’t looking at a bubble-burst situation where people lose money, but the economic wheels are till turning. In those cases, demand falls because of consumer confidence, people holding on to money, etc.
This time, the wheels have stopped turning and nobody knows how long it will take for things to pick back up. Supply and demand both have to build. More people go back to work on the supply side, which in turn adds more demand as folks start making money again. But it doesn’t happen instantly.
This really is unprecedented. I guess the closest parallel would be WW2, but without the wartime economy that came with it.
Posted on 3/26/20 at 8:25 am to hubreb
What the frick did they think was going to happen??? 
Posted on 3/26/20 at 8:26 am to yatesdog38
quote:We are sacrificing lives, bro.
Humans aren't being sacrifices bro. Jobs and the economy are being sacrificed.
Scruffy forgets how little some of y’all care about the impact of unemployment on families, homelessness, crime, children, suicide rates, etc.
This is a completely different situation from 2008, but states like NY and Mass were reporting increases of 30-40% in their homeless populations after the recession.
No understanding here of how y’all believe we can just “stay the course” and “it will all be fine and return to normal”.
This post was edited on 3/26/20 at 8:33 am
Posted on 3/26/20 at 8:30 am to yatesdog38
quote:
3.2MM not 3.2mm
when you are communicating with someone in a chat type conversation people aren't concerned with capitlized or not....been doing this for 23 years
Posted on 3/26/20 at 8:30 am to hubreb
According to whom? Market watch sent me an alert yesterday afternoon that they were expecting 4 million...
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